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Schwab Network

Mag 7 Cost of Market Breadth & What Retail Consumers Hope to See Ahead

6 min13 november 2025

The retail consumer is struggling with a forming K-shaped economy, says Charles Schwab's Joe Mazzola. He believes the markets want to see more economic data to clear the "murky" air around the economy. However, Joe sees market breadth expanding as a signal of strength for the stock market's outlook. It comes with a doubled-edged sword: the Mag 7's lack of leadership in recent sessions.


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